Compliance Responsibilities for Defaulted Mortgages: Foreclosures and Loss Mitigation
Unfortunately, the last couple years have seen many borrowers default on their mortgage loans, forcing lenders and servicers to consider foreclosing. With the many moratoria against foreclosing now having expired, lenders and servicers have seen many foreclosures initiated in a very short period of time.
This trend is expected to continue. What are you permitted to do? What notices must be provided?
The loss mitigation and foreclosure process is by its nature a state-specific endeavor, but there are federal requirements as well. The CFPB and other federal agencies have instituted numerous requirements that must be met before foreclosures can be initiated.
What You’ll Learn
Who Should Attend
This session is ideal for anyone involved in mortgage servicing, default management, loss mitigation, and related areas with responsibilities around the foreclosure process, including compliance professionals, risk management professionals, attorneys and legal staff, management, and back office operations.
